The global Test Benches market size is expected to be worth around US$ 1.60 billion by 2027, according to a new report by Vision Research Reports.
The global Test Benches market size was valued at US$ 1.13 billion in 2019 and is anticipated to grow at a CAGR of 4.7% during forecast period 2020 to 2027.
Increasing adoption of test benches in various industrial applications, such as automotive and transportation, power generation and utilities, semiconductor and electronics, and industrial manufacturing, is expected to spur the growth of the market over the forecast period.
Increasing adoption of test benches in various industrial applications, such as automotive, semiconductor and electronics, industrial manufacturing, and engineering, is likely to propel the market growth over the forecast period. Need for the testing of appliances and equipment that are under development, such as consumer electronic devices, car components, turbines, and pumps, is estimated to drive the market over the next few years. Testing systems are also used for the measurement and inspection of machines and instruments.
The hardware segment held the largest market share in 2019 and is expected to maintain its lead over the forecast period. The hardware plays a significant role in testing the equipment, machines, and instruments and is hence of paramount importance. Hardware components consist of benches and a stimulus generator that is connected to the device-under-test in order to generate a set of synchronized waveforms. Furthermore, the result analyzer provides the information that the results obtained are correct or not when the design is simulated with the appropriate test bench. The demand for the hardware is vast as compared to the software segment. An increasing number of innovations in various industrial applications is anticipated to propel the demand for the hardware test bench over the next few years.
The software segment is expected to exhibit the highest CAGR of more than 5% over the forecast period. There has been a significant increase in software-based testing solutions as compared to hardware testing solutions due to easy implementation and flexibility. Software-based testing solutions can be altered very quickly when needed, which is beneficial for end-users.
Test Bench Type Insights
Based on the test bench type, the global test benches market has been segregated into valve, force, torque, and others. The valve test benches dominated the market with more than 36% share in 2019 and are expected to maintain their lead over the forecast period. The growth of the segment is attributed to the increasing adoption of valve testing benches by the oil and gas industry in order to regulate the flow rate of the fluid in the pipelines. These benches are suitable for testing screwed relief valves at a pressure of up to 1000 pounds per square inch (psi) and ideal for a high-volume production environment.
The torque test benches are expected to witness considerable growth over the forecast period. Torque measuring systems are widely used in the efficiency measurements of electric motors, hydraulic motors, electric screwdrivers, gearboxes, impulse pumps or screwdrivers, and pneumatic screwdrivers. They are also used to measure the angle of rotation and torque in the material sample.
Test Stands Insights
The motorized test stands segment dominated the market in 2019. The growth of the segment is attributed to the benefits associated with the motorized test stands over manual test stands, such as constant testing speed and suitability for production floor operation. These testing stands are available in the low, high, and standard speeds. The motorized test stands are ideal for force measurement, which requires high repeatability. Moreover, they enable to measure at uniform angle and speed. All these factors are estimated to generate considerable demand for the motorized test stands.
The manual test stands segment is expected to exhibit considerable growth over the forecast period. The segment accounted for more than 36% share in the year 2019. These testing benches are used explicitly for small sample testing under compression or tensile applications. Manual test stands enable simple force testing when the budgets are limited. Inaccuracy observed in the manual testing machines is expected to affect the growth of the segment.
Test Material Insights
Based on test material, the market has been further segregated into the valve, motors, furniture, and others. The valve segment dominated the market in 2019 and accounted for a share of more than 37%. The test benches are used to verify the calibration of valves as these valves are widely used in industrial processes and manufacturing operations, which is expected to boost the segment growth. Besides, safety valves and industrial valves play a vital role in the safe operation of the processes and are essential elements in the process control. The benches are utilized for the regular inspections of the safety valves in order to maintain their safety performances as per the required plant prescriptions, which is another factor enhancing the growth of this segment.
The motors segment is estimated to register the highest CAGR of more than 6% over the forecast period. Testing benches are widely used for controlling the speed of the electric motors. Increasing sales of electric motors, especially across North America and Western Europe, are expected to drive the segment. Motor inspection tests are conducted by the motor manufacturers, which determines whether every assembled motor is mechanically or electrically compliant with standards.
The automotive and transportation segment dominated the market in 2019. Rising consumer preferences for advanced vehicles, such as autonomous cars, self-driving cars, and connected cars, are resulting in an increase in the number of automotive manufacturing units. Increasing demand for automotive components is expected to fuel the growth of this segment. Besides, the commercialization of advanced products to reduce the complexity and weight of the vehicles has increased the sales of the vehicles. This is estimated to boost the segment growth. In addition, government initiatives regarding connected and autonomous vehicles are expected to impact the segment growth positively. For instance, in the year 2019, the Government of the U.K. has invested USD 35 million in the development of connected and autonomous vehicles.
The semiconductor and electronics segment is estimated to expand at a CAGR of 4% over the forecast period. Electronic components such as electronic circuits and batteries are tested on a bench using numerous pieces of testing equipment. The testing of these components is done by the equipment, such as an oscilloscope, signal generators, and logic analyzers, in order to check whether the device is correctly manufactured or not. Furthermore, automated test-benches are used to validate the robustness of various mobile applications and advance the overall development cycle of these applications. These factors are expected to fuel segment growth.
Asia Pacific dominated the market in terms of revenue in 2019 and is estimated to maintain its lead during the forecast period. The region is expected to expand at a CAGR of more than 4% from 2020 to 2027. Countries such as China and India are generating the highest revenue and are expected to witness the highest growth in the next few years. China held the largest market share in 2019 in the region as it stands as the largest producer of semiconductors, vehicles, and power generation, which results in the demand for testing benches. Increasing usage of these benches by industries, such as electronics and oil and gas, is also driving their demand in the region.
Europe accounted for more than 23% share in the year 2019. It is expected to exhibit the highest CAGR during the forecast period owing to the presence of several manufacturers of test benches, such as Robert Bosch GmbH and Nidec Industrial Solutions. Germany is home to many test bench manufacturers, such as MCD Elektronik GmbH and Blum-Novotest. Countries such as Germany, the U.K., and Italy are expected to exhibit considerable growth owing to rising research & development endeavors by the manufacturers in order to improve the quality of the product.
Robert Bosch GmbH (Germany); AMETEK Sensors, Test & Calibration (U.S.); Blum-Novotest (Germany); IAG Industrie Automatisierungsgesellschaft m.b.H. (Austria); Mark-10 (U.S.), FuelCon AG (Germany); Nidec Industrial Solutions (Italy), and ATEQ (U.S.).
Test Bench Component Outlook
Test Bench Type Outlook
Test Bench Test Stands Outlook
Test Bench Test Material Outlook
Test Bench Application Outlook
Semiconductor and Electronics
Industrial Manufacturing and Engineering
Automotive and Transportation
Power Generation and Utilities
Oil and Gas
Test Bench Regional Outlook
Middle East & Africa
The Test Benches market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Test Benches market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Test Benches market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Test Benches market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Test Benches market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Test Benches capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Test Benches by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Test Benches market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Test Benches market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Test Benches market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Test Benches industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Test Benches market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Test Benches market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Test Benches market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Test Benches market. These factors have benefited the growth of the global market for Test Benches. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Test Benches. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Test Benches are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Leak Detection And Repair Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Electric Motor Sales Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030Read more...
Ultrasonic Sensors Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Fire Protection Systems Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...
Switch Mode Power Supply Transformers Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2028Read more...